Apple Seen as a Good Pick; Ralph Lauren, Macy's Get a Discount

Ralph Lauren and Macy’s moved closer to the sales bin, but Apple was seen as a good pick, all in Thursday's Analysts’ Actions. Ralph Lauren was downgraded to HOLD from BUY at Deutsche Bank and its price target slashed to $136 a share. Macy's was cut to EQUAL WEIGHT from OVERWEIGHT at Morgan Stanley. The firm said the downgrade was a valuation call given shares have outperformed by 30% over the past three years. Apple had its price target increased by $10 a share to $140. Credit Suisse analysts also increased earnings estimates given continued strong demand for iPhones. An OUTPERFORM rating was reiterated.